Hallenstein Glasson Holdings grants performance share rights to executives

Hallenstein Glasson Holdings (HLG) has issued 37,421 unquoted performance share rights as part of its Long-Term Incentive Plan. These share rights, issued for nil consideration, are convertible into fully paid ordinary shares upon meeting specific vesting criteria over a three-year performance period, from August 2, 2025, to August 1, 2028. The vesting is contingent on financial performance, specifically earnings per share compound annual growth rate for the Glassons NZ chief executive officer and Hallensteins NZ and Australia chief executive officer, and continued employment by August 1, 2028.

This grant is noted in the company's consolidated statement of changes in equity, where the effect of the LTIP share scheme diluted weighted average number of shares for 2025 is reported as 37, contributing to a diluted earnings per share of 66.1 cents. The share option expense of 37 was also recorded in the consolidated statement of cash flows for 2025. The company also reported total equity of $111,895,000 as at August 1, 2025, reflecting a strong financial position, as detailed in the 2025 annual report.

The share rights will lapse if performance conditions are not met or if the holder ceases employment with Hallenstein Glasson Holdings Limited or a subsidiary before the end of the performance period. This strategic move aims to align executive incentives with the long-term growth and profitability of the group.